Alpine Associates Management Inc. Has $123.20 Million Position in Discover Financial Services (NYSE:DFS)

Alpine Associates Management Inc. boosted its holdings in shares of Discover Financial Services (NYSE:DFS - Free Report) by 2.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 878,164 shares of the financial services provider's stock after acquiring an additional 18,670 shares during the period. Discover Financial Services comprises 5.6% of Alpine Associates Management Inc.'s portfolio, making the stock its 5th largest holding. Alpine Associates Management Inc. owned approximately 0.35% of Discover Financial Services worth $123,198,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of DFS. Opal Wealth Advisors LLC acquired a new stake in shares of Discover Financial Services during the 2nd quarter worth $26,000. DiNuzzo Private Wealth Inc. lifted its holdings in Discover Financial Services by 506.5% in the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 188 shares of the financial services provider's stock worth $26,000 after buying an additional 157 shares in the last quarter. Y.D. More Investments Ltd increased its position in shares of Discover Financial Services by 147.8% during the second quarter. Y.D. More Investments Ltd now owns 223 shares of the financial services provider's stock worth $29,000 after acquiring an additional 133 shares during the last quarter. Whittier Trust Co. of Nevada Inc. raised its position in shares of Discover Financial Services by 72.5% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 226 shares of the financial services provider's stock valued at $30,000 after purchasing an additional 95 shares in the last quarter. Finally, Larson Financial Group LLC boosted its stake in Discover Financial Services by 348.2% during the 2nd quarter. Larson Financial Group LLC now owns 251 shares of the financial services provider's stock valued at $33,000 after acquiring an additional 195 shares during the last quarter. Hedge funds and other institutional investors own 86.94% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently commented on DFS shares. Evercore ISI lifted their price target on Discover Financial Services from $156.00 to $163.00 and gave the stock an "in-line" rating in a research note on Wednesday, October 30th. Wells Fargo & Company upped their target price on Discover Financial Services from $152.00 to $160.00 and gave the stock an "equal weight" rating in a research report on Friday, October 18th. Royal Bank of Canada boosted their target price on shares of Discover Financial Services from $148.00 to $161.00 and gave the stock a "sector perform" rating in a report on Friday, October 18th. Finally, StockNews.com lowered Discover Financial Services from a "buy" rating to a "hold" rating in a research report on Monday, November 4th. Thirteen analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $138.81.

Discover Financial Services Trading Down 0.3 %

Discover Financial Services stock traded down $0.54 during mid-day trading on Wednesday, hitting $171.96. 508,197 shares of the company's stock were exchanged, compared to its average volume of 1,677,443. Discover Financial Services has a fifty-two week low of $85.19 and a fifty-two week high of $188.26. The company has a quick ratio of 1.04, a current ratio of 1.08 and a debt-to-equity ratio of 1.28. The firm has a market capitalization of $43.17 billion, a P/E ratio of 13.93, a PEG ratio of 1.14 and a beta of 1.41. The company's 50 day simple moving average is $149.54 and its 200-day simple moving average is $136.74.

Discover Financial Services (NYSE:DFS - Get Free Report) last released its earnings results on Wednesday, October 16th. The financial services provider reported $3.69 EPS for the quarter, beating the consensus estimate of $3.28 by $0.41. Discover Financial Services had a return on equity of 21.38% and a net margin of 13.78%. The firm had revenue of $5.91 billion for the quarter, compared to analysts' expectations of $4.36 billion. During the same quarter in the previous year, the business posted $2.59 EPS. On average, equities analysts anticipate that Discover Financial Services will post 13.23 earnings per share for the current year.

Discover Financial Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Thursday, November 21st will be paid a $0.70 dividend. The ex-dividend date is Thursday, November 21st. This represents a $2.80 annualized dividend and a yield of 1.63%. Discover Financial Services's dividend payout ratio is 22.60%.

Discover Financial Services Company Profile

Discover Financial Services, through its subsidiaries, provides digital banking products and services, and payment services in the United States. It operates in two segments, Digital Banking and Payment Services. The Digital Banking segment offers Discover-branded credit cards to individuals; personal loans, home loans, and other consumer lending; and direct-to-consumer deposit products comprising savings accounts, certificates of deposit, money market accounts, IRA certificates of deposit, IRA savings accounts and checking accounts, and sweep accounts.